Jewelry lab certificate
From ArticleWorld
Jewelry Lab Certificates and Appraisals are technical documents related to Jewelry, Stones, Gems and Diamonds, which are very much desirable to have prepared at the time of purchase of Jewelry.
What are jewelry lab certificates and appraisals?
Certificate is a document which undertakes the truth and correctness of the matter contained therein. The Lab Certificates are such documents, issued in the valuation process of Plain but Polished Stones, Gems or Diamonds. These certificates give the possessor, an assurance, as to the truthfulness and the correctness in the valuation of the so called unmounted stones. These certificates are also known as Grading Reports; as stones need to be sorted and graded according to specific standards.
Appraisals unlike certificates are issued not only for plain stones, gems or diamonds but also for the plain jewelry which may or may not contain stones, gems or diamonds. Thus appraisals are independent of stones.
Uses
Lab Certificates and Appraisals are needed in a variety of ways. For. Eg.:
- To be assured of the value of the jewelry item for which you pay
- To have insurance on jewelry and later for claims
- To settle an estate or divorce
- To pledge the stones with Banks and other institutions to raise your liquidity
- To strengthen negotiation when you resell the stones
- To settle taxation and other legal problems
The Certificates and Appraisals serve just as a Valuation report of your asset. It adds a Dollar tag to your asset.
How are Lab Certificates and Appraisals issued?
Lab Certificates are issued by Grading Labs. Prominent among other grading labs are American Gem Society (AGS) and Gemological Institute of America (GIA). These Labs issue certificates after having a closer look into the
- Cut – Refers to the finishing of the stone
- Color – Refers to the colors which give them an identity viz. Ruby, Topaz etc.
- Carat – Refers to the weight and size of the stone
- Clarity – Refers to the ambience and lighting of a stone.
Appraisals are issued by Certified Appraisers. You can have an appraiser for yourself while buying Jewelry or simple polished stones or diamonds. These appraisers charge a specific fee in lieu of their expert services. The Appraisers undergo thorough training, and as a result they can distinguish a fake, synthesized and artificial stone to a real one.
For a proper appraiser you need to make sure that appraiser is an unbiased and an independent entity. Make sure that he or she is not in any way connected or concerned with the organization from which you purchase the stones.
The Lab Certificate and the Appraisals hold valid for a limited period of time. As the market prices for the stones and gems fluctuate in turbulence the need to revise the document arises. Normally, a valid Lab Certificate and an Appraisal normally holds good only for a maximum period of 2 years. Hence, a review of these documents is highly recommended before the expiry of 1.5 to 2 years. The review from same appraiser would cost less as he would only have to update the market value instead of performing the whole process again.